EU to announce Innovation Fund and MSR-linked auction frontloading at the same time -official
The European Commission will publish the bloc’s revised EU ETS auctioning regulation at the same time as outlining when additional REPowerEU volumes from the MSR will come to market, a senior official told a conference on Thursday.
Read MoreUKA prices surge even as government opts for least ambitious ETS cap cut option in net zero trajectory reforms
The UK government will opt for the least ambitious suggested option for tightening its ETS cap to align with a 2050 net zero emissions trajectory and will further mitigate this by adding unallocated allowances to the market, while committing to include carbon removals following further consultation.
Read MoreBrazil eyes mobilisation of $9.1 bln in clean energy investment after fund approves grid plan
Brazil expects to see a $9.1 billion mobilisation of clean energy investment in the country after a multilateral fund’s board on Friday endorsed a $70 million plan to support renewable power onto the grid.
Read MoreExperts question whether VCMI claims code is out of reach for most corporates
Voluntary carbon market experts have questioned whether the VCMI’s claims code sets too high a bar for many companies to be able to buy carbon credits, risking a drop off in demand.
Read MoreSpain seeks to set EU example, submits revised energy plan just in time
Spain submitted a draft version of its revised national climate and energy plan (NECP) on Thursday a day ahead of the deadline, setting a good example as it prepares to assume the six-month EU presidency while others member states were expected to run late with their plans.
Read MoreVoluntary carbon market initiative publishes buyer claim guidelines
The cross-stakeholder Voluntary Carbon Markets Integrity initiative (VCMI) on Wednesday published its guidelines to help buyers ensure integrity when purchasing carbon credits for voluntary climate pledges, a partial release coming a year on from its initial draft that leaves further details for later in the year.
Read MoreUK retains interest in becoming global carbon credit hub, though Article 6 participation ruled out for now
The UK government will consult later this year on how it can develop as a global carbon crediting hub, an official said on Tuesday, while ruling out prospects that the country could buy Article 6 credits in the near term.
Read MoreBloomberg-backed climate data project tests work with national financial regulator
A platform building an open-access global climate transition-related data is to work with a national financial regulator to test the structure ahead of its launch at November’s COP28 UN climate talks.
Read MoreCARBON FAST FORWARD – MEDITERRANEAN 2023: Analysts expect political intervention well ahead of EU ETS ‘endgame’ as prices seen rocketing
Politicians are expected to intervene in the next few years to alter EU ETS rules that are on course to have the market hit absolute zero emissions in 2040, a conference heard this week, as analysts predicted EUA prices would exceed €250 several years before that unless something was done.
Read MoreFEATURE: Bubbling under – EU taps geothermal heat as ‘model’ facility delivers scale
The EU is increasingly turning to geothermal energy to heat its buildings, as proven by the recent inauguration of the largest plant in Europe outside of volcanic Iceland in the centre of the 27-nation bloc.
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